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80 tta deduction allowable

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 August 2016 whether deduction of 80 TTA is allowable on accrual basis or payment basis,
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KAVIRAJA ADDANGADI

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KAVIRAJA ADDANGADI (Expert)
18 August 2016 Sec 80TTA is allowed interest received in a savings account held with banks, cooperative banks and post office. The deduction is restricted to Rs 10,000 or actual interest whichever is lower.
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Amol S Joglekar

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Amol S Joglekar (Expert)
18 August 2016 it is allowed in the same year in which the savings bank interest is offerred for taxation.....
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